Xanadu
IPOBuilding quantum computers useful and available to people everywhere
Public · Toronto, Canada · Founded 2016 · $241.0M raised
- Total Funding
- $241.0M
- Last Round
- $100.0M Series CNov 2022
- Rounds
- 4
- Type
- Public
About
Xanadu is a Canadian photonic quantum computing company building quantum computers using light-based technology with the mission to make quantum computers useful and available to people everywhere. Founded in 2016 and headquartered in Toronto, Xanadu employs over 240 people and leads development of PennyLane, a widely-used open-source framework for quantum machine learning and chemistry. The company operates Xanadu Quantum Cloud, providing commercial access to photonic quantum computers.
Summary
Xanadu is a Deep Tech company based in Toronto, Canada, founded in 2016. It has raised $241.0M in total across 4 rounds, most recently a $100.0M Series C round in Nov 2022. Investors include Georgian, OMERS Ventures and Bessemer VP.
Tech & App Stack
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Funding History
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Nov 2025
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Investors
Georgian
3 rounds
OMERS Ventures
3 rounds
Bessemer VP
2 rounds
Crane Harbor Acquisition Corp.
1 round
Tim Draper
3 rounds
Capricorn Investment Group
2 rounds
BDC Venture Capital
2 rounds
Real Ventures
2 rounds
Porsche Automobil Holding SE
1 round
Forward Investments
1 round
Alumni Ventures
1 round
Pegasus Tech Ventures
1 round
Tiger Global
1 round
In-Q-Tel
1 round
Radical Ventures
1 round
Silicon Valley Bank
1 round
Golden Ventures
1 round
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